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Dec 13, 2012
12/12
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>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax return in this country that is filed h & r block does it. the fiscal cliff is changing especially with the real estate market i will talk about that next week. they are busy right now. we want to know how to file our taxes. >>> they are lacking toer more than masking. >> exactly. >> everything is listed at my block casone exchange.com. you can apply. we are going to be getting follow up with the fed and crazy decision that took many of us by surprise. >> it is 25 minutes after the hour. he sacrificed his life to save the lives of fellow soldiers in iraq. why is the military refusing to give
>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax...
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Dec 5, 2012
12/12
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WUSA
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...
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Dec 6, 2012
12/12
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WUSA
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. >>> this is a 9 news fiscal cliff note. >> fact, child care tax credits will be really reduced. right now a taxpayer gets a $1,000 tax credit per child each year. the credit kicks in when you file your annual income taxes, but if the reduction goes through, you will only be able to deduct $500, a 50% decrease. here's the back story. this year american families will claim over $38 billion in total child credits. if a compromise isn't reached soon, $37 billion in credits are due to be eliminated. why is this happening? it's part of an effort to slash $503 billion from the federal budget deficit through tax increases and deep spending cuts. >> you can learn more any time at www.wusa9.com and on 9 news. this has been a 9 news fiscal cliff note. >>> as we've been telling you here on 9 news, if an agreement cannot be reached by the 1st of the year, the cuts will have an enormous impact on houses, businesses and you name it and put a huge dent into medical research and drug development, possibly for years to come. automatic federal budget cuts means funding for the national institutes
. >>> this is a 9 news fiscal cliff note. >> fact, child care tax credits will be really reduced. right now a taxpayer gets a $1,000 tax credit per child each year. the credit kicks in when you file your annual income taxes, but if the reduction goes through, you will only be able to deduct $500, a 50% decrease. here's the back story. this year american families will claim over $38 billion in total child credits. if a compromise isn't reached soon, $37 billion in credits are due...
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Dec 10, 2012
12/12
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FOXNEWS
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...
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Dec 11, 2012
12/12
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FBC
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high income people, if we rse taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that ce t politicians get the bloodlust out there, once they smell the bld in the water, oncehe raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that theoint is the republicans are losing momentum on the side of not raising tas. that it is starting tofeel re and more like there must be some concession, there must be some caving to get through the fiscal cliff. when you look at senators who have said theye going back on the pledge, lindsey graham, bob corker, tom coburn, lamar alexander, eric cantor, what do you do at this point to keep the fight going? or do you thinkthat it is necessary to concede a little bit of ground? >> well, two things. the senators, e republican don't matter because thetent democratic senate can pass a tax increase if they want the senaaors you mentioned would only vote for a x increase if they g massive permant entitlement reforms of
high income people, if we rse taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that ce t politicians get the bloodlust out there, once they smell the bld in the water, oncehe raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that theoint is the republicans are losing momentum on the side of not raising tas. that it is starting tofeel re and more...
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Dec 7, 2012
12/12
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look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time ago, this morning. it showed that consumer confidence plunged and in the first week of its month because americans don't know what to expect taxwise. that's a bad sign for retailers at the most important time of the year. the holidays. because guess what, if consumers aren't feeling confident, they are no going to spend. that domino effect that hit retailers, many of these retailers depend on the holiday sales to push them into a profit important the year. this is what's weighing out there in -- you know, for consumers, yes. fiscal cliff definitely weighing on things. despite the fact that the jo
look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time...
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we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should reflect the cost of living in high cost areas like long island. i'm not going to tell my constituents that make less than $250,000, that it should be more. we can all agree on $250,000 and debate what we cannot agree on. >> something about the negotiations themselves seems unusual to me. it seems that house republicans are dealing directly with president obama and sort of skipping over their democratic counterparts like what are you guys doing? >> look, everybody needs to get into a room. there's no question about it. and i don't care whether you are negotiating a baseball contract or negotiating a solution to thi
we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should...
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Dec 11, 2012
12/12
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. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says they will target any lawmaker who tries to cut a deal over the fiscal cliff. >>> thousands will pause saturday to remember those who lost their lives serving our country. [ bagpipes playing ] >> the kickoff was held today at the state capttle. -- capital. >> makes you quietly think that, one, you are glad to be an american, you have to say thank you to these individuals who gave their service to the country. >> 400,000 wreaths are expected to be placed this weekend. >>> vandals hit a radio station for a third time and knock it off the air. how they got around the alarm system. >> how low temperatures will drop and when ra
. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says...
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Dec 9, 2012
12/12
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thank you very much. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion has been about raising taxes and no discussion about reducing the amount -- the outgo. >> let's start there. if we stopped overspending, what would it take for the government to get lined up, to get rid of the debt and deficit. >> we've dug ourselves into a deep hole. when i came to washington we talked about the budget, deficit in the billions, now in the trillions of dollars. part of the problem is the numbers are large but it's a million, million dollars. the debt is $6 trillion and we're borrowing $1.1 trillion a year. the problem the president faces, even if he gets his tax increase on the rich in negoti
thank you very much. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion...
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Dec 8, 2012
12/12
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CNNW
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it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal. there's a long way to go. it's important that they reach an agreement. the fiscal cliff is a very real danger to the united states economy. it's a recipe for a recession. and i certainly would not like to see the rhetoric that we saw from the treasury secretary tim geithner who said he's prepared to go over the fiscal cliff. that is not a good way to talk about what's going on right now. >> mr. reich, let me ask you the same thing. do you think there's code suggesting they are working towards something? because, doug, as you point out, the language was really harsh during this week. but all of a s
it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal....
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i would rather go over the fiscal cliff. >> i don't want to go over the fiscal cliff, but i am not for raising the tax rates. you are not getting to the heart of the problem. it is continuing to sweep of the rock. stuart: you may come to a point where that is the twisted your facing. if he don't say yes on raising tax rates we will go over the cliff. when the going to do if push comes to shove at the very end of this month. >> and what we're trying to do them all we have been trying to do for years is to not come to this point. had we been addressing the need for a pro-growth agenda so that we could be growing in our way out a part of this problem, had we been addressing appropriate spending cuts, the reforms that were necessary. to just say let's raise the rates, you raise enough. you only raise enough money to cover eight days of federal spending. stuart: what are you going to do? if that's the choice that you face you have to say yes or no. yes, i raise tax rates on the rich or no will not. >> you don't raise tax rates which. stuart: you would love no. and started to push like this.
i would rather go over the fiscal cliff. >> i don't want to go over the fiscal cliff, but i am not for raising the tax rates. you are not getting to the heart of the problem. it is continuing to sweep of the rock. stuart: you may come to a point where that is the twisted your facing. if he don't say yes on raising tax rates we will go over the cliff. when the going to do if push comes to shove at the very end of this month. >> and what we're trying to do them all we have been trying...
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Dec 5, 2012
12/12
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KRON
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with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred billion dollars worth of revenues but he says he will do that by lowering rates. when you look at the math, it does does not work. >> not work. as negotiations as negotiations to avoid the so-called "fiscal cliff" continue, republicans were equally dismissive of the last proposal from the president. >> his proposal was so outlandish i don't think we should go back to the table until he puts something there that we can work with. >> the key sticking point between the two sides hasn't changed -- tax rates for the wealthy. >> the math is clear. the only way to accomplish these things is to allow the rates to go up on th
with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred...
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Dec 12, 2012
12/12
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CSPAN
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we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc go
we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we...
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Dec 10, 2012
12/12
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another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization who knew him is completely numb and has been numb the last couple days. football is a game of emotion. a lot of different emotions circulating. somehow how some way, we have to process it all and understand that life is different than football and we had a job to do today gressiv, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. music: "make someone happy" music:
another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization...
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Dec 11, 2012
12/12
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. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers like he has never done before. >> these so-called right the work laws, they don't have to do with economics. they have everything to do with politics. >> tonight the president's big speech, and why the fight in michigan is an assault on workers everywhere. >>> plus, major news on a white house push for immigration reform. in 40 years after man's last trip to the moon, a return voyage may be a reality. astronomer derrick pitts will tell you why the golden spike is a big deal. good to have you with us, folks. thanks for watching. the new republican strategy is to take the amer
. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers...
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Dec 6, 2012
12/12
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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Dec 11, 2012
12/12
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KPIX
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and medicare out of the fiscal cliff debate. >> don't talk about them as if they are entitlements and give aways. these are programs people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. danielle nottingham, cbs news washington. >>> the former head of the international monetary fund and the maid who accuse him -- accused him of sexual assault has settled her lawsuit. it stems from a 2011 encounter. he denied he attack the woman but resigned. terms of the settlement are confidential. she still faces prostitution related charges in france. >>> tonight, the music world is mourning the death of a superstar. the body of grammy nominated singer jenni rivera was found in the wreckage of a crash near mix co. rivera and six others died -- mexico. the 43-year-old was headed back to central mexico with her interage. cbs 5 reporter len ramirez has more. >> you could hear the music blaring out as people played
and medicare out of the fiscal cliff debate. >> don't talk about them as if they are entitlements and give aways. these are programs people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. danielle nottingham, cbs news washington. >>> the former head of the international monetary fund and...
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Dec 13, 2012
12/12
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if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these agricultural producers, among our farmers, our timberland owners about the current inaction on the fiscal cliff, the fiscal crisis. a good example is allen nipper. he is a timber landowner who operates a tree farm in magnolia, arkansas. he wrote to me about what he rightfully calls multiple taxation. he says we know our lands provide clean water and wildlife habitats that benefit society in general without us expecting a handout or a payment for providing those services. he goes on to say but then at my death, the government wants to take up to 55% of the value after i have invested my efforts into
if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these...
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Dec 11, 2012
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KRON
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that, as the fiscal cliff is three weeks away. today, the president made the case for his proposal. to workers at a detroit auto plant. meanwhile, republicans are standing by a proposal that does not include an increase in rates. if no deal is reached, the nation could see a major increase in taxes, and severe spending cuts. meantime, dozens of move-on dot org and pro- union protestors. gathered outside san francisco city hall today, demanding that congress oppose cuts to medicare, medicaid and social security. and as kron 4's reggie kumar tells us. they say they are fed up with the fiscal cliff negotiations and want lawmakers to get their act together. close. in its history. to keep in mind: about 100 protesters held candles that a set of no more tax cuts for the rich and do not cut our benefits. they're asking congress to do the right thing by raising taxes on the top 2 percent. >> we need more revenue and david a. wonderful break for the last 10 years. now we it is time to share the sacrifice that the working people have been doing for all this time it. social security, medicare
that, as the fiscal cliff is three weeks away. today, the president made the case for his proposal. to workers at a detroit auto plant. meanwhile, republicans are standing by a proposal that does not include an increase in rates. if no deal is reached, the nation could see a major increase in taxes, and severe spending cuts. meantime, dozens of move-on dot org and pro- union protestors. gathered outside san francisco city hall today, demanding that congress oppose cuts to medicare, medicaid and...
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Dec 6, 2012
12/12
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why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right now. if they pull what mark is saying, you are going to see the republican party's numbers in the 20s. they have no leverage on this thing. >> not going to happen. megyn: we'll leave it at that. thank you both. just ahead. a much more somber note. new warning about the sarin gas threat in syria. city drivers claim a class action that the traffic cameras are actually rigged. soot whole world is watching and the president of the united states made clear there will be consequences if the assad regime makes a terrible mistake by using these chemical weapons on their own people. megyn: that was leon panetta with a warning that the united states and our allies will not tolerate a chemical attack by syria. we got reports that they were mixing the chemical weapons earlier this week. focusing new attention on saddam huss
why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right now. if they pull what mark is saying, you are going to see the republican party's numbers in the 20s. they have no leverage on this thing. >> not going to happen. megyn: we'll leave it at that. thank you both....
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Dec 5, 2012
12/12
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revenue in the fiscal cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger cliff. i think that the president clearly has staked out a position of nonseriousness. and i think that it's very difficult for the house republicans right now to find any practical way to get his attention. so, he just won an election. he is feeling very good about himself. he is posturing brilliantly, putting the republicans in a corner. they need to relax. they don't have an election until november 2014. >> senior congressional correspondent dana bash joins me now. dana, can we expect fire woworkt the meeting this morni
revenue in the fiscal cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two...
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of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in terms of the details of what they discussed suggests that they're hopeful of a deal, although i have to tell you. the president sounded pretty optimistic when he was in michigan about the possibility of us going off the cliff and falling into a second recession. here's what he had to sa
of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody...
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we thought it worked with the electoral map and fiscal cliff, get them a room and try to it. welcome back. >> good to be back. >> bret: a different channelchallenge. we talked about taxes. let's start there. the compromise. how do you get the compromise. joe, start with you. >> the president is asking for $1.6 trillion in revenue. there is no way, the top rate of 39%. there is i think there will be a rate increase. there is no way the democrats are going to go for less than a rate increase. 37% might be a good place where it seems to be possibility for compromise. the president has to give and go to thenate bill for 20% tax and gain and dividends. the next place and big one is how you deal with deductions then, reforming that. my idea is capping all of them at 28%. let the deductions stay the same. take deductions but you can't lower tax rate below 28%. no matter how many you take. decent idea. top tier. democrats might go for it. >> this isn't an attempt to get more revenue. if you raise top rates back to where they were under clinton you can get $462 billion. if you do what
we thought it worked with the electoral map and fiscal cliff, get them a room and try to it. welcome back. >> good to be back. >> bret: a different channelchallenge. we talked about taxes. let's start there. the compromise. how do you get the compromise. joe, start with you. >> the president is asking for $1.6 trillion in revenue. there is no way, the top rate of 39%. there is i think there will be a rate increase. there is no way the democrats are going to go for less than a...
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time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory and i actually think it has merit where you go ahead and give the president the 2% increase that he's talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlements. >> the shift he's talking about is the political pressure to get larger spending cuts which a good many democrats oppose. we'll see how it works out for him because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of pol
time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory...
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because as we all know if we go over the fiscal cliff. that means higher taxes for everybody. it means a hit of $3.9% to the gp it means unemployment will probably go over 9%, maybe as high as 10%. think those are all the kinds of things that the president would want to avoid. we don't want that to be the discussion beginning 2013. i think the president wants to make sure first we get past the fiscal challenge and bring both parties together and sign an agreement that works for us so we avoid the fiscal cliff and then look for other ways to bring the country together and maybe make a difference legislatively. >> chris as promised really quickly here. your former cross, senator joe mansion, west virginia, absolutely despises the mtv show, buck wild and has taken to talking about it. a lot, what's your take on all of this? what's happening here? >> well, you know, listen, there's nobody who loves his state more, i think than joe mansion. he loves west virginia. it's a state with great people. i've met a lot of them while i worked for him and you see this show, i went and saw the
because as we all know if we go over the fiscal cliff. that means higher taxes for everybody. it means a hit of $3.9% to the gp it means unemployment will probably go over 9%, maybe as high as 10%. think those are all the kinds of things that the president would want to avoid. we don't want that to be the discussion beginning 2013. i think the president wants to make sure first we get past the fiscal challenge and bring both parties together and sign an agreement that works for us so we avoid...
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national correspondent jerramy e centanni is live with the latest on the fiscal cliff. >> reporter: there is no deal yet. no negotiations, face to face, but one republican is giving ground this morning on a major stumbling block. and that's the tax rates for the wealthy. and a key democrat expressing optimism. here's the two side, moving a bit closer together on "fox news sunday." let's listen. >> i think we will get an agreement. the reason i think we will get an agreement. what's standing in the way is revenues, particularly making that top rate go up to 39-6. but i think we are seeing real progress. i think you will see our republican colleague, reluctantly say let's go up to 39-6. >> a lot of people are saying, give the president the 2% increase he's talking about, the rate increase on the top 2%. so there is a growing body. i am beginning to believe that's the best route for us to take. >> reporter: saying, go ahead give the president the tax increase on the highest 2% of wage earners. but house speaker and john boehner have not sat down for negotiations. even though corker is saying
national correspondent jerramy e centanni is live with the latest on the fiscal cliff. >> reporter: there is no deal yet. no negotiations, face to face, but one republican is giving ground this morning on a major stumbling block. and that's the tax rates for the wealthy. and a key democrat expressing optimism. here's the two side, moving a bit closer together on "fox news sunday." let's listen. >> i think we will get an agreement. the reason i think we will get an...
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there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy center. a state center worth less than $5 million are exempt. the center estimates about 3600 people, families, estates will fall into that category this year. 2012. next year barring any congressional action, that exemption falls down to a million dollars, the rate you pay on that estate jumps up to between 41% and 55%. on top of that, there's a 5% tax on the portion of very large tax estates. the tax policy tenners estimates the number will jump from 2600 in 2012 to 53,000 in 2013. that's a huge increase from where we stand right now. as you know, some people call this double taxation, because people
there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy...
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she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in 26 days when the calendar turns to 201. one way to do that is for the moushouse to take up the legisln that this body has already considered in a bipartisan way that would extend the tax cuts for 98% of families and 97% of small businesses while also achieving nearly d is trillion of debt and deficit reduction. this bill extends tax cuts that would otherwise expire for all americans who earn income and for all small businesses, but just on the first $250,000. tax ratetax rates on income abot would revert to tax rates during the clinton administration. this one step wo
she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in...
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house speaker sent the white house a fiscal cliff proposal calling for a permanent extension of the bush-era tax credit for incomes in the top 2%. that was the same proposal. >> that is the identical proposal. in 2011 that was the same proposal. john boehner he listen to this, this is b 12 john boehner after the election, what he was calling the president to do which he is not doing. >> mr. president this is your moment. we're ready to be led, not as democrats or republicans but as americans. we want to you lead, not as a liberal or conservative, but as president of the united states of america. we want to you succeed. let's challenge ourselves to find the common ground that has alluded us. let's rise above the dysfunction and do the right thing together for our country. >> cenk: now look, i'll tell i couldn't this pisses me off. lindsey graham says the same thing. this is not time to be liberal. conservatives say time to be conservatives. we've got a mandate. but not time to be liberal time to be bipartisan. you play small ball. you're not a man. a man agrees with us? why, a man kicks your
house speaker sent the white house a fiscal cliff proposal calling for a permanent extension of the bush-era tax credit for incomes in the top 2%. that was the same proposal. >> that is the identical proposal. in 2011 that was the same proposal. john boehner he listen to this, this is b 12 john boehner after the election, what he was calling the president to do which he is not doing. >> mr. president this is your moment. we're ready to be led, not as democrats or republicans but as...
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could push it over the fiscal cliff. >> if he would do what he said before the election as oppose to do the bait and switch what republicans like is like jerry bro brownicing t cooking the footba. >> the talk of taxes is almost irrelevant to the size of the trillions and trillions of debt. >> unwilling to compromise the democrats new york center chuck schumer said republicans should go ahead and make his day. >> debt ceiling will be part of the griement. i think our repub can colleagues have learned that to save the government is not going to pay his debt for something else is bad substance and bad politics. i don't think they will prevail on it. if they don't say we won't raise the debt ceiling because of medicare make our day. >> some republicans will take the tax hike some will keep one of them. >> a lot of people are looking for the theory. it has merit where you give the president the two percent rate increase on the top 2 percent and all of a sudden the shift goes back to entitlements. all of a sudden once you get him the right on the top 2 percent it's actually much lesser tax
could push it over the fiscal cliff. >> if he would do what he said before the election as oppose to do the bait and switch what republicans like is like jerry bro brownicing t cooking the footba. >> the talk of taxes is almost irrelevant to the size of the trillions and trillions of debt. >> unwilling to compromise the democrats new york center chuck schumer said republicans should go ahead and make his day. >> debt ceiling will be part of the griement. i think our...
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you've heard of fiscal cliff. have you heard about the apple tax. u.s. households spent $444 on apple products last year up from $155 years ago. story from reuters calls it the apple tax. median american income over $50,000 a year, which means $444 is a big chunk to wind up in the cupertino coffers of apple. unlike other taxes this is voluntary. >>> one family's tragedy inspires another's goodwill. now the two are united in promoting organ donations. 18-year-old alfonso garcia was given days toly two years ago when his -- two years ago. the two families are honoring george by decorating and writing a quote in this year's tournament of roses parade. >> i hold them in such a high place he's my hero and will always be my hero. i do this for his parents. >> it makes me want to do more as i have climbed out of my grief. >> parade float feature the likeness of george becker and other organ donors to promote transplant programs throughout california. >>> uc berkeley stirs up new controversy can scholarship fun for undocumented students. -- fund for undocumented
you've heard of fiscal cliff. have you heard about the apple tax. u.s. households spent $444 on apple products last year up from $155 years ago. story from reuters calls it the apple tax. median american income over $50,000 a year, which means $444 is a big chunk to wind up in the cupertino coffers of apple. unlike other taxes this is voluntary. >>> one family's tragedy inspires another's goodwill. now the two are united in promoting organ donations. 18-year-old alfonso garcia was...